At the conclusion of Monday's trade open interest in KCBT wheat options was 31,962 contracts, extending a recent string of new records in the contract that started earlier this summer. Monthly volume in KCBT wheat options totaled 20,133 contracts, easily breaking the previous July record of 16,886 contracts from last year.
Traders said the KCBT wheat options contract has benefited from increased participation by independent traders, which in turn has boosted liquidity and attracted additional commercial business to the market. Open interest measures the number of open trading positions in a market. The underlying futures contract for KCBT wheat options represents 5,000 bushels of hard red winter wheat.
